IAC Inc. (NASDAQ:IAC) Receives $79.77 Consensus Price Target from Brokerages

Shares of IAC Inc. (NASDAQ:IAC - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twelve brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $79.77.

Several brokerages have commented on IAC. Citigroup cut their target price on IAC from $72.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, May 9th. JMP Securities began coverage on IAC in a report on Tuesday. They issued an "outperform" rating and a $78.00 target price on the stock. Wells Fargo & Company raised their price target on IAC from $82.00 to $84.00 and gave the company an "overweight" rating in a report on Tuesday, May 14th. KeyCorp lifted their price target on IAC from $64.00 to $67.00 and gave the stock an "overweight" rating in a research report on Monday, May 13th. Finally, StockNews.com lowered IAC from a "buy" rating to a "hold" rating in a research report on Saturday, May 18th.

IAC Trading Up 2.8 %

IAC traded up $1.31 during midday trading on Thursday, reaching $48.85. 433,658 shares of the company's stock traded hands, compared to its average volume of 750,655. The firm has a fifty day moving average of $50.06 and a two-hundred day moving average of $51.25. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -30.09 and a beta of 1.32. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.70 and a quick ratio of 2.70. IAC has a 52 week low of $41.39 and a 52 week high of $69.85.

IAC (NASDAQ:IAC - Get Free Report) last announced its earnings results on Tuesday, May 7th. The company reported ($0.93) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.14) by $0.21. The firm had revenue of $929.68 million during the quarter, compared to analyst estimates of $937.68 million. IAC had a negative return on equity of 3.31% and a negative net margin of 2.54%. On average, equities analysts anticipate that IAC will post 0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On IAC

A number of large investors have recently made changes to their positions in the business. Garden State Investment Advisory Services LLC increased its position in shares of IAC by 1.3% during the fourth quarter. Garden State Investment Advisory Services LLC now owns 15,010 shares of the company's stock worth $786,000 after purchasing an additional 196 shares in the last quarter. Tandem Capital Management Corp ADV grew its holdings in shares of IAC by 0.6% during the second quarter. Tandem Capital Management Corp ADV now owns 47,222 shares of the company's stock valued at $2,192,000 after buying an additional 260 shares during the last quarter. DAVENPORT & Co LLC grew its holdings in shares of IAC by 0.6% during the fourth quarter. DAVENPORT & Co LLC now owns 44,386 shares of the company's stock valued at $2,325,000 after buying an additional 271 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of IAC by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 32,856 shares of the company's stock valued at $1,721,000 after buying an additional 320 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of IAC by 55.6% during the second quarter. CWM LLC now owns 1,142 shares of the company's stock valued at $54,000 after buying an additional 408 shares during the last quarter. 88.90% of the stock is owned by institutional investors and hedge funds.

About IAC

IAC Inc, together with its subsidiaries, operates as a media and internet company worldwide. The company publishes original and engaging digital content in the form of articles, illustrations, and videos and images across entertainment, food, home, beauty, travel, health, family, luxury, and fashion areas; and magazines related to women and lifestyle.